Cargill Names New Chief Executive

Cargill Inc.'s board appointed David W. MacLennan to take over as chief executive when the current CEO, Gregory R. Page, retires on Dec. 1.

Mr. MacLennan, who is 54 years old, has been with the company since 1991 and is currently Cargill's operating chief and president. He will continue to serve as president after he takes over as CEO.

Mr. Page, 62, will remain with Cargill as executive chairman. He started with the company in 1974 and has been its CEO and chairman since 2007.

Cargill, one of the world's largest privately held companies, operates businesses ranging from grain handling and meat processing to energy trading.

Later this year, Cargill, ConAgra Foods Inc. (CAG) and CHS Inc. (CHSCP) expect the combined companies' North American flour-milling businesses to complete a joint venture called Ardent Mills. Industry insiders expected the venture to control about one-third of the U.S. milling market by capacity.

The company in April hired former Sara Lee executive Marcel Smits to be its chief financial officer, a post Mr. MacLennan had filled on an interim basis since Sergio Rial resigned in November.

Write to Michael Calia at [e-mail]

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